Sunnova files Chapter 11, secures $90M DIP financing, stalking horse asset sale

Sunnova Energy International Inc.

Filed Chapter 11 petitions on June 8, 2025 in Southern District of Texas; operates as debtor-in-possession.
Entered $90M superpriority senior secured DIP credit facility; 12% PIK interest, matures Sept 22, 2025.
Executed Asset Purchase Agreement with Solaris Assets as stalking horse bidder for $10M cash plus credit bid of DIP obligations.
Bankruptcy Court approved TEPH Credit Agreement, TEPH Asset Purchase Agreement (June 11) and Solar Power System Purchase Agreement (June 12).
Sale subject to higher bids in court-supervised auction; company may exit through plan of reorganization.

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